FinPari Review

by Martin Kay

Finpari is operated by Lerona Impex S.A., registration number 114612, with a registered office at 306 Premier Building, Albert Street, Victoria, Mahe, Seychelles. The company operates on behalf of FGC but no other information is given regarding this entity. Finpari is not regulated.

Is Finpari A Scam?

There is no damming evidence that FinPari is a scam but there is evidence you can find a more reliable broker with the same features. There is at least one bad complaint in the forum, claiming their deposit and profits were stolen. This is unfortunate but I must point out, the complaint doesn’t have any evidence to back it up, not saying it didn’t happen just that it’s hard to take at face value with no evidence. Something I find mildly troubling is the claims of regulation. Yes, the company is registered in the Seychelles where they have minimal, and I do mean minimal, oversight of businesses but it is not a regulated binary options broker.

We have reason to believe that Finpari is somehow related to BinaryMate, which is a brokerage with “Warning!” written all over it. Both of them are part of the group FGC and the addresses are suspiciously similar: Finpari is located at 306, Albert Street, Victoria, Mahe, Seychelles while BinaryMate is located at 309&310, Albert Street Victoria, Mahe, Seychelles (wow, what a coincidence…). Also, according to some online sources, BinaryMate is or was at some point owned by Lerona Impex (same company that owns Finpari) but we couldn’t confirm that.

Finpari’s website had a total of 189K visits during March 2017 and a huge spike of 1.65 Million in December 2016. Spikes like that one are not really a good sign and one more thing should be noted: in March 11.43% of visitors came from the United States but that is a drop from 47.51%. Overall this doesn’t really look like healthy traffic and I believe that caution should be used around this brokerage.

Editors Note – Why FinPari Does Suck In 50 Words

Finpari might suck because they are just another SpotOption label and not even a good one. They go so far as to imply CySEC regulation but can not even take the trouble to re-skin the platform. All you get is the basic ho-hum plain theme, and a broker regulated in the Seychelles. The theme I can get over, claims of regulation – I can NOT.

Why FinPari Does Not Suck

Ugh, tough question! I really don’t know. SpotOption platform, same as about 70% of other brokers, no regulation, nothing innovative or helpful to the trader… I got it: Orange is the new Black and their logo is predominantly orange. Pfff, if that’s the best thing I can find about them, you can imagine how good they are…

Should I Open an Account with Finpari?

This is not an unusual set up as many brokers chose to register in a banking friendly country such as the Seychelles in order to avoid stricter regulation. It can be a sign of fraud but there is no evidence of that here, just another broker looking to attract some traders. As mentioned, this a SpotOption based broker and comes with the full line up of available features.

Basic high/low trading is complimented by Pairs, One Touch, Ladder and Spot Follow. There is no Forex or CFD trading, a feature common on other SpotOption based brokers. Expiry is good. Short term speed trading includes 30, 60 and 120 second options, Long Term trading has expiry on an intraday basis, end of day, tomorrow, end of the week, next week, end of the month and on out to 6 months on commonly traded assets. Ladder options have strikes, trade like over/under options and have increased payouts. One touch are available on the weekends and also have increased payouts, up to 600%. Standard payout on call/put trading is in the range of 80%.

Apart from the normal Trading Accounts, Finpari offers a Fixed Income Account (FIA), which according to them, will bring you a 10% monthly income and withdrawals within one hour. They also claim that “invested capital safety is guaranteed by Finpari, with a refund of invested amount, regardless the market behaviour!”. You know that saying about stuff that sounds too good to be true? Yea? Well, this is that stuff.

Finpari Regulatory Warnings And Announcements

06.17.2016: The Autorité des Marchés Financiers (AMF) issued a warning against the activities of certain binary options websites, for which no authorised investment services provider could be clearly identified. Finpari was among the brokerages mentioned by the AMF. Source and full list: AMF Public Warning June 17, 2016.

13.12.2016: The Cyprus Securities and Exchange Commission (CySEC) issued a warning against more than 100 binary options websites that operate without proper regulation and that target Cypriot citizens. Finpari was part of that list. Source: CySEC Announcement.

Finpari Ratings

User Friendly 16/20

The platform is user friendly, don’t get me wrong. SpotOption is my personal favorite platform; it is easy to use and has the most features. However, I must take a point or two off due to misleading regulatory information and heavy handed marketing on the home page.The website is available in 7 languages.

Number Of Assets And Expiry 19/20

FinPari has a full asset list composed of 84 stocks, 29 currency pairs, 7 commodities and 37 indices (however, not all of these can be found on the trading platform), extremely full list of available expiry and a large number of exotic trading options. They don’t have range but you don’t need it with the Ladders. The caveat is that this is not a reason to choose FinPari, you can get the same elsewhere.

Commissions, Support and Effective Returns 15/20

There are no commissions using this broker but there is a fee to withdraw by wire. Support OK but heavy handed on the sales so be aware. The education center is also OK, not much there really but the videos are good. Effective return is standard across the SpotOption universe; about 85% on call/put trading, a little lower for 60 seconds/short term and up to 600% or more on Ladder and One Touch.

Deposit, Payment And Bonus 14/20

Minimum deposit is $250 and can be done by credit card, wire transfer or eWallet. I recommend eWallet whenever possible, this broker takes Unionpay ,Alipay, Amex, Jcb, Wire Transfer, Webmoney, Qiwi Wallet, Okpay, Bitcoin, Perfect Money, Neteller and Paypal. Payments can be made back to the same account but there are limits on credit cards. Bonuses can be had in the form of risk free trading, or one time deposit bonuses up to 100%. Terms a little misleading, in one place I it says only 300% turnover of deposit, 3X, and in another it says 20X. Any deposit, regardless of bonus, has to be turned over at least once to get any withdrawal.

Broker Extra’s 12/20

SpotOption offers a lot of extra’s that go above and beyond plain Jane digital trading. For one, they have the Ladder options which give increase payout and flexibility, for another they have Spot Follow. This is the same as iFollow and is the copy trading platform available from SpotOption built on ZuluTrade’s technology.

I recently signed up with finpari. And being from a third world country i was still able to deposit the 250 usd and with finpari promo it all ended to be 300 usd. Now as soon as I was able to deposit that they come up with a verification about how much was deposited in my account. So I put in 250 , 300 with no success. They asked for a copy of my transactions from my bank and I provided it to them . But still verification was not cleared . I told myself say goodbye to the 250 usd .

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Zarak

11/23/2016 17:42

i deposited 1010$ and made 2600$ over that instead of processing it they have said we are closing work with you and your country. they kept lying and gave me fake promises and now they have closed my account. I have all the proofs with me.

00

Li

10/03/2016 02:35

I had searched the web reviews about this binary broker before I opened my account with them. Basically all the reviews were positive about this broker. I believe those sites were paid to put on the good words. Unfortunately, I did not stumble on this site. So on 8/18/16, I opened my account with Finpari with $3000 from my credit card and started trading. Then on 8/21/16, I did exactly what their FAQ said. I logged in to my account and went to the page of Fixed Income Account and deposited $3150.00 from my credit card. Immediately it went to my trading account. I sent several emails to them requesting to make sure that this amount was for my Fixed Income Account, which they promised 10% per month income no matter what the market was doing. However, they gave me the run-around by first saying that my success manager would do it the next day and contact me. He would be arriving at his office at 1PM GMT and then they wrote me again saying that he would arrive at 6PM GMT. However, next day nobody did anything to correct the error. Nor did anyone contact me.So I wrote them again and they replied that my success manager was on business trip.My tradings were getting better and better and started to make more money. The same day, I bought a put for EUR/JPN at strike price 113.652 around 22:24 and when the trade was about to close, my order was suddenly gone. At expiration of 23:00, the price was around 113.603. My order would win. They deliberately took away my winning trade and refused to credit $178.00 back to my account though I emailed them several times asking them to do so.So basically all the binary brokers either registered or unregistered are the Houses. Traders are gambling against the Houses, because there is no market, no traders taking your opposite trades except the Houses, who are not the exchanges to match buy and sell orders. The only way for the Houses to make money is that the traders lose money. The houses may allow you to win a few trades but if you win consistently, they will do something to sabotage you like preventing you from entering trades when prices are in your favor, delaying trade confirmations, cancelling your winning trades and/or manipulating prices and expiration time to make you lose trades.

Finpari’s Fixed Income Account which offers 10% monthly return is a SCAM, to allure unsuspecting traders into your traps. There is no such account. This is another evidence to prove the old adage: Something is too good to be true!

I asked my Success Manager Gregory Abrams to send me the photo of his Finpari ID to prove his real name and he refused. I knew that he was a phony man, who was using an alias. So I wrote to him:“I know it. It is a sham. Phony broker, phony persons, phony account and phony tradings. Actually my account does not even have an account #. Your Forex binary option market even opens on Saturdays and I even traded on a Saturday on your trading platform using my account with you. As a matter of fact, Forex markets around the world opens from Sunday 5 pm EST (10:00 pm GMT), till closes on Friday 5 pm EST (10:00 pm GMT). They never open on Saturdays. Now where are your market data and trading feeds come from on Saturdays since Forex markets never open? This is completely a scam.Last week, I informed my credit card company of stopping payment to you. Now, you have 2 choices:1) Refund the 2 amounts you charged my credit card: $3000 + $3150 in FULL amount back to my credit card immediately. You can keep my trading profit in my account since this is a fake number. Or2) I will expose all this on the internet and let every trader know about your scamming behavior. And my credit card company will refund the money to me later.It is your choice.”

Now, my credit card company has successfully credited the 2 full amounts back into my credit card. Traders, if you are scammed, call your credit card companies to get your money back. Be very careful in choosing binary brokers!!!

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Anatoly

12/16/2016 02:48

How long did it take the Credit Card company to credit you back that ammount?

And what did you say to the credit card companies? Did you have to send anything or say anything specific to get a refund?

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Kurt Hamm

03/21/2016 18:06

I have not been able to get a penny back from Finpari.com. I haven’t heard of anyone who has gotten profits or original investment back. They will give you the runaround and pretend to process a withdrawal that will never come.

They will lead you on until you call their bluff. Then, you will never hear from them again.

With finpari, your money is gone the minute you deposit it.

Kurt

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Paul Zanbaka

08/24/2016 19:56

Can anyone tell me if they can find an address on Finpari in the US?Other than in Scotland.I am trying to take them to court for scam and not allowing me to withdraw my funds

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samy

03/19/2016 12:16

There have been a problem with Finpari, the problem began when you deposit $ 4,000 in my account and was one of the conditions for achieving the company’s Turn Over or trading volume of at least the amount of the deposit in the sense achieve $ 4,000And I have already achieving this required turnover 4015 usd been achieved.

– And then asked for withdrawal of the amount of $ 2,000 from my account.

-But I was surprised to add bonus to my account without my knowledge an amount of $ 5,000!!!!!!! So they freezing the account until achieve trading volume of 100,000 dollars !!!

I connect to the company’s many times without any answer !! From their side so far, I am unable to withdraw the $ 2,000 or even any amount from the account!!

After reviewing the terms of the laws of the company and it dawned on me that :

That could be me in case the customer’s request Bonus mistake to withdraw any amount from the account with a 20% commission truncated even this did not happen.

my account manager never ever call me at all personal accountPlease help solve the problem as I do not know what should I do in this caseAhmed

00

Victor

02/23/2016 21:39

Finpari’s claim to have an address in Aberdeen(Scotland) is untrue. Not only am I from Aberdeen, the post code, AB11 6DY is just about 150 meters from where I live and I can tell you there’s no street called Due Street in all of Aberdeen. I am a taxi driver. Area AB11 6DY is a lonely residential area with nothing major around.This is my conversation with them:

On Tue, 23 Feb, 2016 at 13:48, Support

wrote:

Hello,Regarding your email, our main office is in Aberdeen (Scotland). But, as we work almost with all regions we don’t mention this information in our web site. Thank you!

23/2/2016 5:05 PM,

Great! What’s the address in Aberdeen?

Rgds

Victor

On Tue, 23 Feb, 2016 at 16:00, Support

wrote:

Hello,You can find all information on our web site.https://www.finpari.com/termsThank you!

I then wrote back to them an hour later:

Hello. This is actually fraudulent claim. I am a resident of Aberdeen. And I live in this post code you supplied. There is no sure address like Due Street in Aberdeen.

For goodness sake why is most things about Binary options brokers false? Even the company registration number you provided is false, I must say.

This company is setting you up for fraud. They may have paid you your withdrawal, but the ultimate heist is in horizon. They will vanish into thin air like many others have done. Please be aware.

PLEASE WHY IS THIS NOT PUBLISHED? OR IS THIS WEBSITE NOT WHAT IT SEEMS?

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